Cash in the attic! British holidaymakers are hoarding £550million in foreign currency
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Short of a quid for your next holiday? Maybe you're forgetting something. While we have no problem changing our pounds into the currency of our holiday destinations, a study has found more than £550 million in foreign cash is laying about in British homes waiting to be converted back.
Money saving website Vouchercodespro.co.uk claims up to two fifths of Brits have un-exchanged cash leftover from their getaways.
The survery of 2,748 people from around the UK aged over 18 found 61 per cent of them had gone on a holiday overseas in the past year which required them to get foreign currency.
Euro stash!: British travellers are keeping their foreign currency after their holidays rather than converting it
Conversion: Two in five Brits have money they haven't changed back to pounds
Asked if they had money they've yet to change back to pounds, 41 per cent those surveyed said yes.
Reasons for keeping the foreign money included holding onto it for a future holiday (27 per cent) and they didn't see the point given poor exchange rates (21 per cent). Others didn't have time (14 per cent), had mostly coins which couldn't be exchanged (13 per cent) or forgot (7 per cent).
The most common forms of currency Brits have squirrelled away is Euros (44 per cent), US dollars (22 per cent) and Turkish Lira (21 per cent).
The survey found the average British adult has £27.13 in foreign currency, adding up to the substantial total estimate of £551,715,680 .
Under the sofa: British holidaymakers are effectively leaving money under their couches after their breaks
'£551million sure is a lot of money for Britons to abandon and leave lying around their homes, whether they can't be bothered to exchange it or not,' said VoucherCodesPro spokesperson George Charles.
'We understand that it's frustrating that travel agents, supermarkets and the like don't exchange coins, only notes, which will lead to people being left with a handful of coins, but if you have any cash notes remaining then you should always make an effort to exchange them – it's more money in your pocket to spend or save, after all.'
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